2024-02-07 02:02:16 ET
Summary
- Canadian Natural Resources Limited showed a strong operational performance and raised its dividend by 11% in Q3-2023.
- CNQ's budget for 2024 is $5.42 billion, with a focus on liquids growth and a 3-7% growth per share in production.
- The company has some wood to chop to get valuation in line with peers.
- We tell you how we would play it for the year ahead.
Note: All amounts discussed, except the prices in the covered call calculator screenshot, are in Canadian Dollars. ...
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Canadian Natural: Solid Performance, But Valuation Remains A Headwind